Community Financial System (NYSE:CBU) Director Brenda Hall Acquires 476 Shares

Community Financial System, Inc. (NYSE:CBU) Director Brenda Hall bought 476 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were purchased at an average cost of $63.59 per share, with a total value of $30,268.84. Following the acquisition, the director directly owned 515 shares of the company’s stock, valued at approximately $32,748.85. This represents a 1,220.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Community Financial System Trading Up 0.4%

CBU stock opened at $63.16 on Thursday. Community Financial System, Inc. has a 52 week low of $53.46 and a 52 week high of $71.11. The company has a market capitalization of $3.32 billion, a PE ratio of 14.65 and a beta of 0.78. The company’s 50-day simple moving average is $65.89 and its 200 day simple moving average is $63.38. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.77 and a current ratio of 0.77.

Community Financial System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, July 28th. The bank reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.02). Community Financial System had a return on equity of 11.47% and a net margin of 21.79%.The business had revenue of $218.45 million during the quarter, compared to analyst estimates of $221.77 million. During the same quarter last year, the firm earned $1.04 EPS. Community Financial System’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Community Financial System, Inc. will post 4.58 earnings per share for the current year.

Community Financial System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.49 per share. This is a boost from Community Financial System’s previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, September 15th. This represents a $1.96 dividend on an annualized basis and a yield of 3.1%. Community Financial System’s dividend payout ratio is 43.62%.

Analyst Upgrades and Downgrades

CBU has been the topic of several recent analyst reports. Piper Sandler raised their target price on shares of Community Financial System from $66.00 to $71.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Raymond James Financial reissued a “strong-buy” rating and issued a $75.00 price objective on shares of Community Financial System in a research note on Thursday, April 30th. Weiss Ratings upgraded shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods reduced their target price on Community Financial System from $70.00 to $68.00 and set a “market perform” rating on the stock in a report on Thursday, July 30th. Finally, Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Community Financial System presently has a consensus rating of “Moderate Buy” and an average target price of $71.50.

Hedge Funds Weigh In On Community Financial System

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Community Financial System in the second quarter valued at approximately $507,210,000. Sei Investments Co. grew its holdings in Community Financial System by 94.0% during the 1st quarter. Sei Investments Co. now owns 54,224 shares of the bank’s stock worth $3,180,000 after acquiring an additional 26,269 shares during the last quarter. NFJ Investment Group LLC acquired a new position in Community Financial System in the 2nd quarter valued at approximately $17,456,000. Fifth Third Bancorp raised its stake in shares of Community Financial System by 7,231.2% during the first quarter. Fifth Third Bancorp now owns 16,422 shares of the bank’s stock valued at $963,000 after acquiring an additional 16,198 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Community Financial System by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,818,395 shares of the bank’s stock valued at $106,647,000 after acquiring an additional 20,428 shares during the last quarter. 73.79% of the stock is currently owned by institutional investors and hedge funds.

About Community Financial System

Community Financial System (NYSE: CBU) is the bank holding company for Community Bank, National Association, a full-service commercial bank headquartered in DeWitt, New York. Through its principal subsidiary, the company offers a range of banking and financial services designed to meet the needs of both consumer and business clients. Its organizational structure centers on community-based banking operations supported by centralized technology, risk management and administrative functions.

The company’s product offerings include deposit accounts, residential and commercial mortgage loans, commercial and consumer lending, treasury and cash management services, and electronic banking.